• Jul 31, 2024

Centralized Crypto Exchanges Are Slowly Losing Ground to DeFi Counterparts

Centralized crypto exchanges are slowly losing ground to their DeFi counterparts, according to an in-depth data analysis conducted by Decrypt. DeFiLlama decentralized exchange (DEX) volume data and CoinGecko total cryptocurrency trading volume data shows that the percentage of crypto trading volume that happens on DEXs compared to total trading volume went from 4.6% in February to over 7% this month. This is an increase of the DEX-fueled trading volume portion of over 52%. Source: Adrian Zmudzin...

• Jul 31, 2024

Solana Down 8% as Its Meme Coins Dogwifhat, Billy, and Neiro Fall Further

Solana, the fifth-largest crypto asset by market cap, has fallen 8% over the past 24 hours, according to CoinGecko, as its meme coin market takes larger hits. Some of the meme coins, which can be notoriously volatile, have fallen by as much as 43% in the past day. As the crypto market bleeds with Bitcoin (BTC) down 2.7% and Ethereum (ETH) 4.2%, Solana (SOL) has taken the largest hit out of the top 10 cryptocurrencies falling to 8.2% to $168 on the day, according to CoinGecko data. With this, Sol...

• Jul 31, 2024

Tennessee Senator Backs Trump, Wants to 'Make Certain' America is a Crypto Hub

U.S. Senator Bill Hagerty (R-TN) threw his support behind Presidential candidate Donald Trump's bid to make the U.S. a crypto hub this week. Speaking to Bloomberg Surveillance, Hagerty argued that, "We need to make certain that it happens here in America." He likened crypto to the semiconductor industry that, "got pushed offshore and weakened us from a geopolitical standpoint," adding that, "We need to see this innovation happening here." Describing Trump's stance on crypto as "likewise involved...

• Jul 31, 2024

Bitcoin and Ethereum See Red as Markets Sag Amid Volatility

Bitcoin and Ethereum, along with the rest of the top 10 crypto assets by market capitalization, are looking sluggish on Thursday morning. At the time of writing, the Bitcoin price is still below $65,000 and 2.2% lower than it was this time yesterday, according to CoinGecko data. Things are worse for the Ethereum price, which is 3.7% lower than it was 24 hours ago at $3,185.22. The ETH price drop is identical to that of  Lido Staked Ethereum (stETH), an Ethereum liquid staking token. In the past...

• Jul 31, 2024

Notcoin Launches Game Based on ‘Lost Dogs’ NFT Collection

Viral Telegram clicker game Notcoin has partnered with The Open Network (TON) NFT project Lost Dogs to launch a story-driven game by the same name. In the new Lost Dogs Telegram game, players will vote daily on decisions that will shape the six-week-long narrative of Lost Dogs. As the game progresses, the characters based on the Lost Dogs NFT collection will gain special powers and become “celebrities.” “We want to unveil to you a world full of discoveries, joy, suffering, cliffhangers, and myst...

• Jul 31, 2024

Aptos Foundation and OKX Ventures Launch $10 Million Growth Fund

OKX Ventures, the VC arm of crypto exchange OKX, and Aptos Foundation, the organization behind the Aptos layer 1 blockchain, have launched a $10 million ecosystem growth fund. The initiative aims to accelerate the growth of the Aptos blockchain ecosystem and promote widespread adoption of Web3 technologies. The fund will primarily support an accelerator program, operated in partnership with Ankaa, focusing on nurturing quality projects and applications built on the Aptos blockchain, the companie...

• Jul 31, 2024

UK Central Bank, BIS Showcase Project for Monitoring Stablecoins

A joint effort by the Bank for International Settlements and the Bank of England has shown it can deliver near real-time data on stablecoins’ liabilities and the assets backing them. Dubbed Pyxtrial, the initiative could also extend to monitoring other tokenized products backed by real-world assets in an attempt to address major challenges for financial watchdogs, a report published on Wednesday reads. Pyxtrial includes features that allow authorities to pull data directly from issuers' systems...

• Jul 31, 2024

Lummis Introduces Bitcoin Reserve Bill Aiming to Bolster US's Global Financial Standing

Sen. Cynthia Lummis, R-Wyo formally introduced a bill to the U.S. Senate on Wednesday seeking to establish a national Bitcoin reserve as political interest for the industry comes into focus. Dubbed the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill aims to strengthen "the position of the U.S. dollar in the global financial system," per the text of the bill. The legislation was first announced by Lummis during the annua...

• Jul 31, 2024

Bitcoin Miner Riot Posts $84 Million Quarterly Loss as Post Halving Era Bites

Riot Platforms, a NASDAQ-listed Bitcoin miner, reported a net loss of $84.4 million in its latest quarterly financial report, even as the price of the world’s largest crypto remained relatively stable. Instead, its loss was primarily driven by a 52% year-over-year (YOY) decline in the number of Bitcoin mined between April 1 and June 31, Riot said Wednesday. Riot also reported a non-cash stock-based compensation expense of $32.1 million, along with depreciation and amortization costs amounting to...

• Jul 31, 2024

How Founders Can Revitalize VC Tokens

To get listed on major exchanges, many crypto projects are over-inflating their valuations at launch, scaring away investors. How do founders get exposure to VC funding withou...